Charlie Lee bets 250 BTC against Segwit2x. Bitcoin continues steady rise – October 1

Bitcoin’s start of the month was quite pleasant to say the least. The cryptocurrency crossed $4300 mark with just over $70 billion market cap. While other cryptocurrencies struggled to gain momentum, Bitcoin cruised through the weekend without registering any losses, as if Korea ICO ban never happened.

Positive news from Japanese government, which endorsed 11 cryptocurrency exchanges helped, Ethereum price cross $300 after a long time. Japan has positioned itself as a central hub within the Asian cryptocurrency ecosystem, and this announcement reaffirms that the country will play a prominent role moving forward.

The month of October has begun with total cryptocurrency at $145 billion – not terribly far away from its all time high of $175 billion. This month expect more countries to ban ICOs following China and South Korea. It is important to note that this prohibition is most likely a blanket ban and crypto markets have already gotten resilient to such news.

Overall, Bitcoin climbed 15% in the past 7 days, and is nearing its all time high of $5000. At the time of writing the cryptocurrency comfortably sits at $4281 – highest mark since September 12. The next resistance level is at $4600 and then $4800.

Top Stories from the Crypto World

1. Charlie Lee bets 250 BTC against Segwit2x

Charlie Lee, creator of Litecoin, has been very outspoken about Segwit2x recently. So much so that he has challenged SegWit2x developer Jeff Garzik, ShapeShift CEO Erik Voorhees, and Digital Currency Group CEO Barry Silbert – all SegWit2x proponents – to trade him 250 BTC from the original bitcoin blockchain for 250 BTC from the SegWit2x blockchain following the hard fork. That’s more than $1 million!

Lee tweeted:

Lets do a public 1:1 trade. My Segwit2x 250 BTC for your non-2x 250 BTC after Nov HF. No HF, no trade. @jgarzik @ErikVoorhees @barrysilbert

None of them responded, but Roger Ver (aka Bitcoin Jesus), who also happens to be a Segwit2x supporter, accepted the challege.

Roger tweeted:

Why wasn’t [I] invited? I’ll gladly accept! You are economically illiterate if you think restricting the supply of block space is a good thing.

It is hard to remember a time when both the Bitcoin camps (pro-blocksize-increase and against-blocksize-increase) were not involved in a debate about the best way to scale Bitcoin network. Now that the bets are in place, only time will tell who ends of losing millions of dollars.

2. Swiss regulators investigating ICOs

The Swiss financial regulatory board, Financial Market Supervisory Authority (FINMA), is investigating ICOs based out of Switzerland. The move comes after a substantial uptick in the number of ICOs based in the country.

The board also noted that many of the ICOs that are currently active have already likely breached existing law that regulates financial instruments within the country. These include money laundering and terrorist measures, securities trading provisions, investment scheme laws, and banking laws.

A good thing to know: I wouldn’t be surprised if Switzerland outlaws ICOs ‘temporarily’ like China and South Korea. What ICO market needs right now is stringent ICO policies, so that investors are not duped by a startup that is raising millions without having a viable product in the first place. Something SEC is trying to achieve in the US.

3. SEC files charges against two ICOs

SEC’s previous warnings against ICOs are living up to the expectations. The charges were levied at REcoin and DRC (Diamond Reserve Club), both ICOs founded by Maksim Zaslavskiy.

These actions by the SEC clearly must serve as a strong warning that ICOs will be researched and targeted for prosecution unless they are careful about regulatory honesty.

SEC reiterated their warnings, both to investors and potential ICOs, saying:

Investors should be wary of companies touting ICOs as a way to generate outsized returns. As alleged in our complaint, Zaslavskiy lured investors with false promises of sizeable returns from novel technology.

21 comments

  1. Wonderful site you have here but I was wondering if you knew of any discussion boards
    that cover the same topics talked about in this article?
    I’d really love to be a part of community where I can get suggestions from other experienced individuals that share the same interest.
    If you have any recommendations, please let me know. Thanks a lot!

  2. I think this is one of the most vital info for me.
    And i’m glad reading your article. But should remark on some general things, The site style is perfect, the
    articles is really great : D. Good job, cheers

  3. I just couldn’t depart your web site before suggesting that I actually enjoyed the usual information an individual provide in your visitors?
    Is gonna be again often to check up on new posts

  4. Hello! This is kind of off topic but I need some advice from
    an established blog. Is it very difficult to set up your own blog?
    I’m not very techincal but I can figure things out pretty quick.
    I’m thinking about creating my own but I’m not
    sure where to start. Do you have any points or
    suggestions? With thanks

  5. Hey I know this is off topic but I was wondering if you knew of any widgets I could add to
    my blog that automatically tweet my newest twitter updates.
    I’ve been looking for a plug-in like this for quite
    some time and was hoping maybe you would have some experience with something like this.
    Please let me know if you run into anything.
    I truly enjoy reading your blog and I look forward to your new updates.
    cheap flights http://1704milesapart.tumblr.com/ cheap flights

  6. Hey there would you mind letting me know which webhost you’re utilizing?
    I’ve loaded your blog in 3 completely different web browsers and I must say this
    blog loads a lot quicker then most. Can you suggest a good hosting provider at a fair price?

    Cheers, I appreciate it! scoliosis surgery
    https://0401mm.tumblr.com/ scoliosis surgery

  7. Does your site have a contact page? I’m having trouble locating it but, I’d like to send you an e-mail.

    I’ve got some suggestions for your blog you might be
    interested in hearing. Either way, great site and I look forward to seeing it expand over
    time. ps4 https://bit.ly/3nkdKIi ps4

  8. Your style is so unique compared to other people I’ve read stuff from.
    Thanks for posting when you’ve got the opportunity, Guess I’ll just book
    mark this page.

  9. Howdy! I could have sworn I’ve been to your blog before but after looking at some of the articles I realized it’s new to me. Nonetheless, I’m definitely pleased I discovered it and I’ll be bookmarking it and checking back often!|

Leave a Reply

Your email address will not be published. Required fields are marked *